Struggling pro wrestling company World Championship Wrestling was finally sold yesterday to a group that includes former WCW president Eric Bischoff, a move that had been expected ever since WWF owner Vince McMahon backed out of his plans to swallow up rival WCW.

Fusient Media Ventures, a New York and Los Angeles based media/entertainment company reached an agreement with Turner Broadcasting System, Inc. yesterday to acquire WCW. Ted Turner's TV company will retain a very minor interest in WCW as well as TV rights to all WCW programs -- for now, at least.

Time Warner, parent of TBS, has been trying to dump WCW since it announced a merger with America Online. At one opint, WCW was projected to lose nearly $100 million last year.

Bischoff has been named WCW president and will not only have complete creative control, but it is likely that he will once again become a visible character on WCW TV, much like he used to do during WCW's glory days in the mid 90s. Bischoff, though, is not a majority owner of WCW and will not have final say on any business or financial related matter.

That's where Brian Bedol comes in. Bedol, who created Classic Sports Network before selling it to ESPN, is the new CEO of WCW. Translation: Head honcho.

The acquisition, which will not actually be finalized for about two months, immediately changes everything we have come to know about WCW in its 12-year existence.

"Wrestling fans can rest assured that we will give WCW the adrenaline shot it needs to once again become the most exciting brand of wrestling in the world," said Bischoff.

During a conference call yesterday afternoon, Bischoff and Bedol discussed some of the possible changes that WCW fans will be witnessing in the near future, but also made it clear that many decisions have not yet been made.

One thing that is guaranteed is that WCW is finished with Atlanta. The new WCW will be based out of New York and Los Angeles. This means major moves for many WCW wrestlers and it means the Power Plant training facility is officially finished.

WCW TV schedules wont be changing right away, if at all, but the live event schedule might be altered drastically. Bedol hinted that he would like to see WCW TV branch out beyond the Turner channels at some point, as well.

Fusient takes over day-to-day control of WCW right away and Bischoff has already begun plans for WCW's new direction. We are likely to see some wrestlers released from their contracts, but a lot of familiar faces, like Hulk Hogan, are almost guaranteed to return to the WCW scene -- if they are willing to accept lower salaries.

Fusient will be trying to run WCW on a somewhat tight budget until they can get WCW back on its feet again, after years of financial woes.

(The Trenton Strangler is in his fourth year of covering pro wrestling for The Trentonian).